August 22, 2019 / 6:22 AM / a month ago

Norway's oil industry trims 2019 investment forecast

OSLO, Aug 22 (Reuters) - Oil and gas companies working in Norway have slightly cut their 2019 investment forecasts since May, a survey by the country’s statistics agency (SSB) showed on Thursday.

While 2019 investments are still forecast to hit a four-year high, it is too early to tell whether the industry will see a further increase in 2020, SSB added.

Investments are now seen at 181.7 billion Norwegian crowns ($20.3 billion) in 2019, down from the 183.7 billion crowns predicted in May, according to SSB, which collects the data from oil firms. ($1 = 8.9578 Norwegian crowns) (Reporting by Terje Solsvik; editing by Emelia Sithole-Matarise)

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